Project Managment Worksheet

Project Management Concepts Worksheet

Concept Application of Concept in the Scenario Reference to Concept in Reading

project control

The American Bank of Indiana does not show a display of project controls, nor does the company no how to plan, schedule, and use a budget to measure their performance. “Project controls are systems used to plan, schedule, budget, and measure the performance of a project/program. The cost estimation package is one of the documents

that is used to establish the baseline for project controls” (directive, 1997).

baseline charge

There is really no baseline plans at ABI. ABI needs to add additional resources and increase the resource activities for the baseline plan to have measure performance for cost and duration. “The baseline plan provides us with elements for measuring performance and is derived from the cost and duration information found in the work breakdown structure database” (Larson, G. 2008).

monitoring time performance

ABI here needs to add additional goals, continue all performance activities, and increase the training activities for time performance to be corrected. In this area, time performance is “a major goal of progress reporting to catch any negative variances from plan as early as possible to determine if corrective action is necessary” (Larson, G. 2008).

status report

ABI does not have a status report. This company must work on the value to measure a schedule and cost performance. “A status report is analogous to a camera snapshot of a project at a specific point in time and this